In preparation for the end of the Brexit transition period on 31 December 2020, we’ve developed a new UK Benchmarks Register. This will replace the ESMA Register for UK supervised users, and UK and third country-based benchmark administrators that want their benchmarks to be used in the UK.
You'll be able to access the new UK Benchmarks Register from 11pm on 31 December, in the ‘Other registers’ section of the Financial Services Register.
The new register will consist of 2 sections, displaying:
- The Benchmark Administrator Register – this will be a public record of all benchmark administrators that are authorised, registered or recognised by us, or that benefit from an equivalence decision that has been adopted by the UK.
- The Third Country Benchmarks Register – this will be a public record of all benchmarks that are provided by third country benchmark administrators that are recognised by us, endorsed by a UK-authorised or registered benchmark administrator (or other supervised entity) for use in the UK, or that are provided by benchmark administrators that have notified us that they benefit from an equivalence decision that has been adopted by the UK.
The register will have a search facility to make it easier for you to locate a specific administrator or benchmark. It will also allow you to download details of third country benchmarks as .csv documents.
Third country benchmarks
In September 2019, the UK extended the transitional period for third country benchmarks from the end of 2019 to the end of 2022 through the Financial Services (Electronic Money, Payment Services and Miscellaneous Amendments) (EU Exit) Regulations 2019. This was to give third country benchmark administrators more time to apply to us.
The Treasury is proposing to extend the transitional period for third country benchmarks again, from 31 December 2022 to 31 December 2025.
As a result, if you're a third country administrator, and want to continue using your benchmarks in the UK after 31 December 2025, you must apply to us for approval via equivalence, recognition or endorsement, before this date.
For regulatory enquiries specifically related to benchmarks, contact our Benchmarks Supervision team via email at [email protected].
For general queries, including general regulatory questions, you can get in touch with our contact centre.